Casino Revenues and Stocks Down, Unemployment Picture Brightening, and Market Basket Stable
07/29/10
This month we continue to track some key metrics that create a snapshot of the regional economy. As you look at the statistics, remember that they will represent the most recent data available (to us), so if you have something that is more up-to-date or more accurate, please let us know.
Here’s our look at where the region stands as we start the third quarter.
Casino revenues are down dramatically, dipping by almost $33 million from May to June. That represents an 11% drop from the same period a year ago.
Unemployment in the region has a more positive look, with the percentage of the workforce that is unemployed dropping in six of our eight counties from April to May. Only Camden County showed a slight increase (.1%) and Burlington was flat—but at a region-leading 9.0%. And Burlington was the only South Jersey county to beat the national and state averages, which both registered at 9.7%.
Our SNJBP Stock Index has mirrored the market and continues to tumble. In fact, all 10 stocks that we’re tracking were down over the past month. It’s still up for the year, but only by .007 %. That means that we’ve effectively given back all of this year’s gains.
Finally our consumer inflation watch is down ever so slightly for the second consecutive month (by $ .71) at $75.67 for a prototypical “market basket.”
Stay tuned as we watch what happens during the rest of the year. And if you think there are some “numbers” we should consider adding, drop SNJBP publisher Jenny Ryan a note at jenny@snjbp.com.
Casino Revenues: June 2010 (millions) DOWN
Jun ’10 May ’10 Apr ’10 Mar ’10 Feb ‘10 Jan ‘10 2009 Total
Revenues $286.8 $319.70 $311.5 $300.8 $261.6 $294.2 $2,005.30
% Change
(from 2009) 11.1% -9.0% -0.7% -5.6% -15.7%* -8.5% -13.20%
(from ‘08)
Unemployment Rate: May 2010 DOWN
May ’10 Apr ’10 Mar ‘10
Atlantic 12.4% 12.6% 13.6%
Burlington 9.0% 9.0% 9.6%
Camden 10.6% 10.5% 11.0%
Cape May 10.6% 12.6% 16.3%
Cumberland 13.0% 13.1% 14.4%
Gloucester 10.1% 10.2% 10.8%
Ocean 10.0% 10.3% 11.4%
Salem 10.9% 11.0% 11.8%
NJ 9.7% 9.8% 9.7%
US 9.7% 9.9% 9.7%
Stock Watch: July 2010 DOWN
Ticker Closing Closing YTD
Symbol Price Price Change
Company Name 12/31/09 7/12/10 ($)
Campbell Soup CPB 33.80 35.96 2.16
Checkpoint CKP 15.25 17.54 2.29
Gannett GCI 14.85 14.62 -0.23
J&J Snack JJSF 39.96 43.48 3.52
L-3 Communication LLL 86.95 71.86 -15.09
Lockheed Martin LMT 75.35 74.74 -0.61
PHH Corp PHH 16.11 19.01 2.90
PSEG PEG 33.25 33.45 0.20
TD Bank TD 62.72 69.13 6.41
Valero VLO 16.75 17.79 1.04
TOTAL: $394.99 $397.58 $2.59
(+.007%)
Regional Market Basket: July 2010 DOWN Jul ’10 Jun ’10 May ’10
Breakfast:
Eggs, large, 1 dozen, Acme brand: $2.69 $2.69 $2.69
Breakfast Cereal: Cheerios (14 ounce box) $4.49 $4.49 $4.49
Milk $3.99 $3.99 $3.99
(1%, 2%, or whole, Acme brand; gallon)
Coffee $3.89 $3.89 $3.79
(Maxwell House 11 oz. canister)
Tropicana Orange Juice $4.19 $4.19 $4.19
(1/2 gallon carton)
Lunch:
Campbells Soup (3 cans) $5.00 $5.00 $5.00
Bumblebee Chunk Lite Tuna $1.39 $1.39 $1.39
Butter (Acme brand,1 pound) $3.99 $3.99 $3.99
Kraft Crackerbarrel Cheese $5.39 $5.39 $5.39
(10 oz. pkg)
Stroehman’s Bread $3.59 $3.59 $3.59
Whole Wheat (24 oz. pkg)
Dinner:
3–pack Romaine Lettuce $3.78 $3.99 $3.99
Plum Tomatoes (1 lb.) $1.99 $1.99 $2.99
Classico Spaghetti Sauce $3.19 $3.19 $3.19
(24 oz. jar)
San Giorgio Spaghetti $1.65 $1.65 $1.69
(1 lb. box)
Health and Beauty Aids/Cleaning:
Tide Laundry Detergent $15.99 $16.49 $16.49
(100 oz. bottle, liquid)
Pantene Classic Care Shampoo $6.99 $6.99 $6.99
(25.4 oz.)
Scott Bathroom Tissue $1.09 $1.09 $1.09
(individual 1K sheet roll)
Gasoline:
Valero Gasoline $2.479 $2.479 $2.679
Regular Unleaded (cash/gallon)
Total Cost: $75.67 $76.38 $76.62
